Wednesday, August 28, 2013

CIBC Report: Canadian University students choosing liberal arts programs...not those business wants like science, math, business and technology

While the report (noted below) also indicates that there a very small gaps between the rates of employment of high school and university graduates, and also between MA and PhD grads and undergraduates,
it points to a very interesting development, especially when compared with the Canada's southern neighbour.
Canadian students are, if this report is to be believed, are continuing to choose liberal arts course in their undergraduate years, rather than succumbing to the lure of the science, math, business and technology magnet that the corporate world prefers. If reports out of the U.S. are to be believed, there is talk in some quarters about discontinuing liberal arts curricula from many universities, since some believe that the government ought not to be underwriting the costs, through both grants and loans, of students pursuing liberal arts programs, given the needs and the demands of the marketplace.
  1. Do these trends indicate that Canadian students have a greater social conscience, a more development social consciousness, and greater motivation to engage in "people-to-people" careers than American students?
  2. Do these trends point in the direction that Canadian students see more poverty, inequality, injustice and despair in our own country, and around the world, and want to do something about it, than their American peers?
  3. Has the message of some corporate CEO's, that they would prefer an English graduate who has searched and found literary patterns in Chaucer's Canterbury Tales, to whom they can teach the details of accounting, financial management...penetrated the Canadian students' individual and collective psyche(s) more than it has the U.S. students?
  4. Is this trend in Canada, one that the CIBC reports disdains, for the obvious reason that graduates will have less to deposit and invest in the CIBC accounts and portfolios, indicative of a silent but nevertheless steady political statement against the takeover of the lives of young people by the corporate behemoth(s)?
  5. Is this relatively sparse data pointing to a nation of young people likely to shape their world in ways that the global markets never imagined, and certainly never hoped for?

Too few Canadian students are choosing to study fields that are in high demand, according to an August 26 CIBC World Markets report.

By Emma Crawford, Business Vancouver website, August 26, 2013

The report says that Canada has the highest proportion of adults with a post-secondary education among all OECD [Organisation for Economic Co-operation and Development] countries, despite having tuition costs that are double the average of those countries. However, students are increasingly choosing to study fields that don't lead to lucrative careers, it states.
"A higher education may be a necessary condition for a good job in Canada, but it is no longer a sufficient condition," said Benjamin Tal, CIBC deputy chief economist and study co-author.
"Narrowing employment and earning premiums for higher education mean that, on average, Canada is experiencing an excess supply of post-secondary graduates.
"And despite the overwhelming evidence that one's field of study is the most important factor determining labour market outcomes, today's students have not gravitated to more financially advantageous fields in a way that reflects the changing reality of the labour market."
The study found just under half of all recent graduates studied fields such as humanities and social sciences, which it said isn't giving them an advantage when it comes to a career.

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